Does Central Pacific Bank Charge an International Processing Fee?

Customers who frequently travel to foreign countries may be aware of international processing fees and how they are assessed. However, according to some consumer reports, international processing fees may be being charged by some banks and credit unions on purchases made from within the U.S. Central Pacific Bank is one bank that may be under investigation for potentially charging these foreign transaction fees.

Do You Have a Central Pacific Bank Credit Card?

Central Pacific Bank is based out of Hawaii, and operates branches on four of the eight Hawaiian islands. The bank was founded in 1954 by several World War II veterans seeking to serve immigrant families starting their lives off the islands’ sugar plantations. Central Pacific Bank employees more than 850 employees and has approximately $6 billion in assets.

Thousands of Hawaiian residents use Central Pacific Bank for their banking needs. If you have a Central Pacific Bank card and have been charged international processing fees for purchases made within the U.S., you may be able to speak with an experienced attorney.

What Are International Processing Fees?

International processing fees are fees that are assessed for purchases that are processed internationally. Most of the time, U.S. consumers will encounter these fees when they are traveling out of the country. These fees may be assessed when travelers use their credit card to pay for a meal or other items, or when travelers use foreign ATMs to check their account balance or withdraw cash.

Many frequent travelers are aware of these fees and plan their budget accordingly. However, recent consumer reports indicate that some banks may be charging international processing fees on purchases made online within the U.S.

According to consumers who have been charged these fees for online purchases, it is not always clear when a transaction will be processed internationally. Some online retailers may appear to be based out of the U.S., leading shoppers to believe that they will not be subject to any international fees. When it is not clearly stated on an online retailer’s website that its transactions will be processed internationally, these fees may come as a surprise to shoppers.

International transaction fees are generally between 1% and 3% percent of the cost of the purchase. Central Pacific Bank charges a fee of 2% of the purchase if the transaction is made in U.S. dollars, and 3% if the transaction is in foreign currency.

When Can Central Pacific Charge an International Processing Fee?

Central Pacific Bank’s fee schedule does not specify whether the bank assesses international processing fees for purchases made online from within the U.S., or whether these fees are only applied to purchases made physically internationally.

Have Any International Processing Fee Lawsuits Been Filed?

In 2011, a settlement was reached between several major banks and credit card providers, and millions of consumers. According to the ten million consumers who filed claims against Visa, MasterCard, Chase, Citibank, Bank of America, HSBC, Bank One, and Washington Mutual, these financial institutions were not transparent regarding how and when they assessed foreign transaction fees. By not clearly that these fees may be assessed even when purchases were made in the U.S., consumers claimed that the financial institutions were in violation of consumer protection laws.

How Can You Avoid Being Charged an International Processing Fee?

Consumers may be able to avoid being charged international processing fees in several ways. When you travel outside of the country, it may be best to avoid using foreign ATMs, and to pay in local cash currency rather than using a credit card. For online purchases, consumers may be able to research the company they are purchasing from in order to determine whether their transaction will be processed out of the country. However, this information is not always clearly disclosed on retailers’ websites.

If you have been charged an international processing fee by Central Pacific Bank for online purchases made within the U.S., you may be eligible to speak with an experienced attorney about your legal options. If it was not made clear that the bank charged these fees for purchases made online, or it was not clear that the purchase you made was processed out of the country, you may be eligible to join or file a class action lawsuit. Some victims of these fees may be able to collect reimbursement or additional compensation.

Join a Free Foreign Transaction Fees Class Action Lawsuit Investigation

If you were charged a foreign transaction fee on a debit card or credit card purchase made on a foreign website, you may qualify to join this foreign transaction fees class action lawsuit investigation.

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This article is not legal advice. It is presented
for informational purposes only.